Woodvale & Shankill Communi Housin Association Limited Report of the Board for the year ended 31 March 2023 The Board presents its port together witli the financial stateinents for the year pnd-d 31 Marcli 2023. Principal Activities The Group pi'ovides social housiiig accominodation for those in need, affordable hoiising and energy 5Lipplies. Results The surplus on ordiiiary activities tor the yeai. i¥as £647,383 compared with a surplus of £639.137 for the previous year. Corporate Governance In the opinton of the Board, the Association is in compliance with the Best Practice issued by the NFIF Code of Govern]ee. Board of Management The Board meets throughout the year and ha5 cornmittees with specifi¢ responsibilÉties for housing, finance and audit. Going Concern After making enquiries. the Board has a reasonable expectation ihal the Association had adequate resources to continue in operational existence for the foreseeable future. For this i-eason the Board continues to adopt the going coiicern basis in preparing the financial slalements. Internal Financial Control The Board is responsible foi- the Associatioii's svstems of intei'iial finanLial conti'ol and along with senior mai)ageinenl is respoiisible for eslablisliing and opei-ating detailed control and report procediires. The systeins of internal financial control can provide oiily reasonable, and not absolute, assurance against material misstatement and Ioss. The Board has reviei¥ed the effectiveness of the Association's system of intemal financial control. The revie included consideration of the business risks facing Ihe AssociatioTh and of the existing intemal financial control procedures. The key elements of the control system in operation are: The Board lias adopted a formal Schedule of matters reserved for its approval ensuring it maintains responsibility for overall strategy, approval of all property transactions and other major capilal expenditure projects. There is an organisation stnictiire wilh clearly defined lines of responsibility and delegation of auihority. Detailed budgets are prepared covering Ihe Association's biisinesses ivhich are reviei¥ed and approved b). the Board. Actual resulis are compared against budget and appropriate action identified and initiated. The Board reviews matters trlating to internal control and receives reports on a regular basis from ihe extemal and internal auditors and from senior management. The process for identifying, evaluating and managing the sigiiificant risks faced by the Association is ongoii)g, has been in place for the year ui)der review and up to the date of approval of the anniial report and accouiits. and is regularly reviewed by the Boai'd.
Woodvale & Shankill Communit Housin Association Limited Report of the Board for the year ended 31 March 2023 {continue(4 Board's responsibilities The Co-operative and Commiinity Benefit Societies Act (NL orthern Ireland) 1969 and retsistered housing -4ssocialion legislation require the members of the Board of Manageinent to prepare finl¢la1 statements for each fiiiaiic.ial yeai. Ivhich (Five a triie and fail. view of the state of tlie Associatioii s attairs and of its sui'pliis oi. deficit for that period. In preparing these statements the Board is required to: Select suitable accounting policies and apply theiT] consisteiitly Make judgein-nts and estiinates tliat are reasoiiable and prudeiit Prepare ihe financial statements on the going concerii basis unless it is inappropriate to presume that the Association will continue to operate. The members of the Board of Managemeiit are respoiisible for keeping propel- aecolintino records which disclose with reasonable accuracy at aiiy tiine the financial position of the Association and lo enable thein to ensure that the financial statements comply with the Co-opei'ative and ComiDunity Benefit Societies Act (Northern Ireland) 1969and the Registered Hoiising Associations (Accounting Requirernents) Order {Northern Ireland) 1993. They have general responsibil ity for the taki.no of reasonable steps to safeguard the assets of tlie Association and lo pievent and detect fraud and other irl'egul.l1ies. Statement of disclosure of information to auditors So far as each of the members of the Board is aware.. thei-e is no i-elevaiit ii)formation of whicli Ihe AssoLiation's aiidilors are uiiaiiiare they have taken all reasonable steps that they OLight to have taken, as members of the Board, ill order to inake tl)einselvcs awar¢ of any relevaiit audit infonnation and to establish that tlie Association s audil015 are awai-e of thal iiifoi-lnation. Auditors A resolution to reappoint MTS Chartered Accountants will be proposed at the Annual General Meeting. By order of the board Chairperson Belfast Date".